What smart money is saying about Mitchell Services
MSV.AX
No fund has written a full thesis on Mitchell Services in our archive, but 2 fund letters report a position in it — most recently Ryder Capital Limited in September 2026.
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2
Reported positions
1
Bought
1
Sold
2
Letters
Position history
Between Q4 2024 and Q3 2026, 2 fund letters reported a position in Mitchell Services — 1 opened or added to the position, 1 trimmed or exited.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 1 | 1 | 0 | 0 |
| Q4 2024 | 1 | 0 | 1 | 0 |
Fund activity · 2 positions · 2 moves
- New positionRyder Capital LimitedSeptember 2026
“September Quarter Activity We had an active quarter, continuing to recycle capital out of positions that had reached or exceeded our assessment of value and into opportunities offering a clear margin of safety. We exited our holdings in Nufarm, FDC Consolidated, Coast Entertainment and Polymetals Resources, sold on valuation grounds following a strong re-rating over the prior months. We also trimmed Kantra Copper (formerly Hillgrove Resources) on overall Portfolio exposure and valuation grounds. Sales and exits during the quarter realised ~$3.3m in net capital profits. We added to our positions in Vista Group, FINEOS, Amplitude Energy, Symal, Janison Education and Valiant Gold, and exercised our 13.7m Lumos Diagnostics options at 7 cents per share ahead of their 30 September expiry. Small new positions were initiated in Objective Corporation, SCX.AI, Mitchell Services and Generation Development Group, collectively representing 1.8% of the Portfolio.”
Mitchell Services - ExitedRogue FundsDecember 2024
“Mitchell Services With Mitchell Services, I was afraid of getting caught up in a value trap. They’re going to have a bad half of the year but honestly the market didn’t care about the good part of the year. Recently I have been reading heavily into studies on share buybacks and it’s interesting that there really are no strong returns from share buybacks until over 50%-80% of the company is bought back. This could take many years and with a decent amount of float, it was unlikely to squeeze the price upwards. Although I believe the company is extremely undervalued, I think you will be hard pressed to find a catalyst that will push it out of its current valuation range. Due to the internal hurdle rate that I expect The Fund to achieve on each position over a 3–5-year period, I was concerned that Mitchell Services would not be able to meet this even with utilization levels at high marks. Again, we sold this for essentially no gain or loss and there was a neutral impact from our investment in it.”
Mitchell Services
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